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Jim Prince, 25-year commodity market veteran, just posted a 3+ minute video about a recent move in the commodity markets. Watch it now, and he'll send you a free companion PDF and an email reminder every time he posts a new Daily Alert video.
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Soybean futures are trading 8 to 10 cents lower this morning after posting an 18 cent gain in the nearby contract on Friday. December contract was $7.60 higher on Friday, but ended the week with a loss of $1.70. Argentine soybean planting is now estimated to be 35% completed. Brazilian planting is still running about 7% behind the average pace for this date. According to the CFTC, the managed money accounts had decreased their net long position in soybeans by 10,620 contracts as of the Tuesday close, which brought them to a net long position of 30,733 contracts.